The Steam Engine Was Developed by

question 77

Multiple Choice

The steam engine was developed by

• A) Edmund Cartwright.
• B) James Hargreaves.
• C) Henry Cort.
• D) James Watt.
• E) Hans Krieger.

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Definitions:

Initial Value Method

A financial recording method where the purchase price of an investment is its only recorded value, without adjustments over time.

Consolidated Net Income

Consolidated net income is the combined net income of a parent company and its subsidiaries, after intercompany transactions have been eliminated, presenting a comprehensive net income figure for the entire corporate group.

Subsidiary's Equipment

Assets like machinery and tools owned by a subsidiary, which is a company controlled by another parent company.

Consolidation

The process of combining the financial statements of a parent company with those of its subsidiaries, presenting the financial results as if the group of companies was a single entity.